MetroNews (WVA) reporting verbal agreement reached between WVU and BE ($20 M)

Update for 9pm Thursday:

A verbal agreement has been reached between WVU and the Big East allowing the University out of its contract and clearing the path for WVU to become a member of the Big 12 Conference on July 1.

Sources tell Metronews the Big East Thursday night finally accepted a settlement offer by WVU. As part of the settlement, the Big East will receive $20 million. It's believed, however, that the Big 12 may absorb a portion of the payment.


http://www.wvmetronews.com/news.cfm?func=displayfullstory&storyid=50865

Once Providence takes their cut, the lawyer$ get paid, Seton Hall, DePaul, and the other backbone institutions of the BE receive theirs, UConn might, might net enough to throw a pizza party for Marinatto.

Next up: Sources say Syracuse and Pitt are in negotiations to leave the Big East in advance of their intended withdrawal date of July, 2014. The schools' argue that precedent has been set with the recently signed stipulation entered into between WVU and the BE, which grants the Mountaineers the right to bring their redneck, toothless inbred, SAT- challenged fanbase to the Big 12 for the start of the 2012 season.

It's not a bend over. $20M is a ridiculous amount of money and a fair settlement. The object of all of this is to come out of the mess with the best deal possible. In this case, the best deal is to take an
absurd amount of dollars, not to punish WVU and its ethically challenged athletic director, although both look really bad in all of this. Believe me, the amount of the settlement clearly establishes
who had the better case.

Dan, I read and speak three languages, one of which is English. I don't have the slightest idea what language appears in your posts. It is certainly not English, French or Vietnamese, or any other language with which I am familiar. Seriously, it is such a mess I have no idea what you are trying to say. Could you at least try to write something that can be read AND understood in any of the three languages I've noted? Thanks.

Translation:
SyraPitt are gone after next year.
Louisville to the B12 is right around the corner, along w/ BYU.
UConn should play a home and home w/ Boise.
Dan likes potatoes, especially at night.

And there is not going to be any money for the BE or its schools - that money, which started in the SEC, moved to the B12, then to the BE - will end up west of the MS River in the hands of the MWC and Boise. Its called a transfer payment to facilitate Boise's move NOW. The net amount of money to the conference will be close to zero.

The net amount of money to the conference if it ends up with a WVU for Boise trade should not be a huge number. Seriously -- as WVU had every right to leave in two years anyway, what is the real damage of them leaving early if they're replaced by a better team?

Some damage from that? Yup. Overwhelming damage? I don't see it.

I don't know...

For me, it's not about the money. IMO, once again the BE comes small. Pay enough money, leave when you want, we have a circular door so when you leave we'll bring a sorry ass or ill fitting program to take your place. It's just a bad mentality. The BE looks more like a cheap hooker than a conference.

As I counsel clients, litigation is only about the money. That is what the system is set up to do. If you want to use litigation for "vindication" or "morality," you will get your clock cleaned because that is not what the system is about in business disputes.

Boise for West Virginia would be a huge improvement to the schedule. It would be awful for the new Big East if WVU won the league again next year as they would be favored to do. Rip the band aid off and lets get to know our new conference mates. A group of people who actually want to be here, how refreshing.

Hopefully when the new schedule comes out Cuse and Pitt will be traveling to Boise for an ass kicking.

Well said MF...and very true! I totally understand, and share, the feelings of many here about WVA being able to leave early. I don't like it at all and feel they have no respect at all for the league that helped elevate their football program over these past 20 years or so. However, you have to keep in mind that if they stayed for a year, there would be a lot of negative baggage attached to the league if that were the case. It would be even worse, and look really bad, if WVA won the BE conference while heading out the door and bashing us at every opportunity. It's much better to escort the disgruntled, and now former, employee out the door today, than to have them hang around for "2 weeks". It's important to keep in mind that Boise is an upgrade...better than WVA would have been!

He's just starting to learn paragraphs and punctuation. Let's take it easy on the young pup. He's gung ho on uconn football, and that's a good thing.

I understand that. I guess my point is that if WVU/Big 12 didn't think the BE would eventually settle for cash they wouldn't have gone down the road that they did. And, while I'm not a lawyer, this shouldn't be about vindication or morality, it should be about upholding the terms of an agreement. If the BE believes they would eventually win in a court of law they should damn well stick to their guns and make WVU live up to the terms that they not only agreed to but helped formulate and ratified. If the BE thinks it would win (and I do understand that they may not or may be involved in a case for years on end) and they just settle for the money, IMO, they further undermine their ability to function as a viable conference. You know, "Hey we've got rules but if you give us enough money, we'll waive them", does very little to inspire confidence for a prospective member.